affordable homes

Homes at 242 Spencer

Homes are the cornerstone of health and opportunity. 2018 marks The Neighborhood Developers’ (TND) 40th year bringing homes to Chelsea. Under Construction at 242 Spencer, the framework for  high-quality, well-managed homes is being erected. TND’s newest affordable rental housing development, consisting of 34 units, all at or below 60 percent of the Area Median Income (AMI), with 11 units restricted to extremely low-income households at or below 30 percent of AMI.

242 Spencer is located in a mixed-use neighborhood that provides excellent access to Chelsea’s four public elementary schools and public transportation, including two MBTA bus routes that connect residents to the MBTA Blue Line and other points in Chelsea, Revere and East Boston. Within a five-minute walk of the development site are local shopping options, public parks, and Beth Israel Deaconness’ Chelsea medical facilities. The City of Chelsea has demonstrated support for the development of affordable apartments at 242 Spencer as a means to create lasting affordability for current Chelsea residents and for those from neighboring communities that are facing the regional pressure of rapidly growing housing costs.

TND will partner with Housing Families to provide services to families in eight units reserved for formerly homeless or at-risk families.

In The Press

 

A special thanks to our funders:

  • Equity: RBC Tax Credit Equity Group

  • Federal and State Low Income Housing Tax Credits: The Low Income Housing Tax Credit Program of the Commonwealth of Massachusetts Department of Housing and Community Development

  • Tax-Exempt Bond Financing: MassDevelopment

  • Construction and Permanent Financing: Boston Private Bank

  • Subordinate Debt: The Commonwealth of Massachusetts Department of Housing and Community Development; Community Economic Development Assistance Corporation; and North Suburban HOME Program

  • Predevelopment, Acquisition and Construction Financing: The Life Initiative

 

LINK IT OVER

Links from the web that we found relevant. They don't always represent our point of view, but they're interesting:

Chelsea Record: Unconstitutional: City Files Federal Suit Against Trump Administration’s Executive Order to Potentially Defined Sanctuary Cities
The City of Chelsea, in conjunction with the City of Lawrence, filed an eight-count federal lawsuit in Boston Federal Court on Wednesday morning, Feb. 8, calling for the court to declare unconstitutional the Executive Order penned by President Donald Trump regarding stripping federal grant funding from Sanctuary Cities like Chelsea.

Revere Journal: News Briefs: TND CELEBRATES 10th ANNIVERSARY
The Neighborhood Developers (TND) is celebrating its 10th anniversary of providing VITA services to Chelsea and Revere.

Revere Journal: Arrigo Targets Future Of Wonderland in State of City Address:Calls for More Input in City Processes by Residents; Technology and Professionlism Highlighted
Mayor Brian Arrigo offered hope and a clear direction for the City Monday night during his State of the City address in the Council Chambers of City Hall.

Boston Globe: Group pushing on an array of issues, not just affordable housing
THE ARTICLE “Affordable housing groups want in on Preservation Act” (Metro, Feb. 12) mischaracterizes the implementation of the Community Preservation Act in two significant respects. First, it describes the Yes for a Better Boston committee as a coalition of affordable housing advocates.

The Atlantic: This Month in Urbanism: February 2017
A sampling of city-focused events around the world. This month: urban agriculture in Atlanta, the complexity of street networks, and how to love a city in the snow.

Yahoo: NeighborWorks Training Institute in Seattle will attract 1,600+ community-development professionals, nearly $3 million in economic impact
A nearly $3 million boost is coming to the Seattle economy when more than 1,600 community-development professionals from around the country convene in the city for the NeighborWorks Training Institute.

Housing Finance: NeighborWorks’ Nonprofits Invest Nearly $2.4 Billion in Rental Housing
NeighborWorks America’s network of local nonprofit organization invested more than $2.38 billion into the development and preservation of affordable rental housing during the last fiscal year.

Boston Globe: Affordable housing advocates crave bigger slice of CPA revenue
After Bostonians overwhelmingly voted for the Community Preservation Act, a small property tax increase aimed at improving neighborhoods, a new battle is taking shape — over the committee that will decide how that nearly $20 million in new revenue will be spent.

Boston Globe: Chelsea, Lawrence challenge Trump on sanctuary cities
The cities of Lawrence and Chelsea filed a lawsuit in federal court in Boston Wednesday challenging President Trump’s executive order that would strip funding for so-called sanctuary cities, calling the proposal an unconstitutional penalty for local governments that have sought to build trust with their immigrant communities.

City Lab: Trump Can Now Re-Create the Housing Crisis That Got Him Elected
By dialing back Dodd-Frank regulations, President Trump exposes the nation to another financial catastrophe—a sequel to the housing crisis that helped him win the election.

 

LINK IT OVER

Below are some links we found from around the web that we thought were relevant to our work. These articles don't always represent our point of view, but it's interesting to know what people are saying :

Chelsea Record: City Preparing for Quick Turnaround on CPA after Overwhelming Vote
Lost in the turmoil of the November election was the overwhelming ‘yes’ vote for the Community Preservation Act (CPA) in Chelsea, and now City leaders have set an accelerated schedule to get the new program up and running by next fiscal year, which begins July 1.

WBUR: What Would Ben Carson As HUD Secretary Mean For Mass.?
On Monday, Donald Trump tapped retired neurosurgeon Dr. Ben Carson to head up the Department of Housing and Urban Development. Carson has no experience in government, and if confirmed by the Senate, he would run an agency with a budget of almost $50 billion and more than 8,000 employees.

Boston Globe: Low-income families need a place in the Boston area’s housing picture
THE BOSTON Globe covered the release of a report related to the production of high-end housing in the region (“Luxury housing boom in city slows,” Page A1, Nov. 29). However, threaded throughout the data is another story.

Boston.com: Walsh to push new tenant protections
Mayor Martin J. Walsh is wading into the fight over renters’ rights in Boston.

FastCo: These Apocalyptic Maps Show The Holes Income Inequality Has Left In Cities
Tall buildings represent the wealthy; short ones represent the poor. What's missing? The middle class.

538: Stop Treating HUD Like A Second-Tier Department
Donald Trump on Monday morning said he would nominate retired neurosurgeon Ben Carson as his secretary of housing and urban development.

The Hill: Obama administration bans smoking in low-income housing
The Department of Housing and Urban Development (HUD) announced Wednesday it will ban smoking in public housing units in an effort to protect millions of low-income tenants from the effects of secondhand smoke.

The Atlantic: The Future of Housing Segregation Under Trump
The president-elect is skeptical about many of the Obama administration’s attempts to give minorities access to better homes.

Revere Journal: The Secret Weapon to Ending America’s Health Crisis: Schools
America has a big, fat problem. A whopping 13 million American children are obese— and millions more are about to join their ranks.